Inactivity Fees?

[Anonymous]

Hi,

I just opened my NFCU checking/saving last month. I was denied CC so I am waiting to lower my uti and bump my score before trying again. I am planning to open a PenFed account next month and also considering Alliant.

Will I incur any inactivity fees or charges for habing these accounts open if I am denied CC's with them? (NFCU/PenFed/Alliant)
Will it matter if I have checking/saving or only savings?

Thanks!

[IOBA]

To the best of my knowledge....

Navy - no fees for inactivity.  Btw, they have some of the best CD rates around....

Penfed - requires a minimum of a $500 direct deposit each and every month into the checking account.  They do not require deposits into the savings accounts.  It's been a while since I opened an account with Penfed.  Their product line may have changed and they may offer other types of checking accounts that do not require direct deposit to avoid fees.

I do not have an account at Alliant, so not sure about their terms.  You can always call and ask.

[Revelate]

Alliant has an inactivity fee and an account dormant fee, both now listed at $10.

The inactivity fee is explicit; no transactions other than dividend earning within a year, so I just schedule a $1 transaction every six months to keep that away.  I may be able to do a small recurring ACH transfer or similar and to be fair think can do that with virtually every place that has an inactivity fee.  

The account dormant fee is somewhat new I guess as it wasn't there 18 months ago, not sure what it covers that the inactivity fee doesn't.  I do know I haven't gotten slapped with it using the above $1 money shuffle to the share secured loan I still have there.

[UncleB]

Here's a thread from a few months ago that might help... I contributed some info for NFCU there.

http://ficoforums.myfico.com/t5/Personal-Finance/NFCU-accounts-Alliant-accounts-and-dormancy/m-p/474...

TL;DR... it's really easy to avoid dormancy with NFCU. 

[Anonymous]

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@Anonymous wrote:
Hi,

I just opened my NFCU checking/saving last month. I was denied CC so I am waiting to lower my uti and bump my score before trying again. I am planning to open a PenFed account next month and also considering Alliant.

Will I incur any inactivity fees or charges for habing these accounts open if I am denied CC's with them? (NFCU/PenFed/Alliant)
Will it matter if I have checking/saving or only savings?

Thanks!

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I do not think there is an inactivity fee with PenFed Share Account. I think there is with the Savings and Checking Account.